38.2-2516 - Issuance of policies; bylaws as part of contract. - Virginia Statutes

§ 38.2-2516. Issuance of policies; bylaws as part of contract.

The directors of every mutual assessment property and casualty insurer shallissue insurance policies requiring the insurer to pay all losses or damagescaused by the risk insured against during the time the policy is in force.Payment shall not exceed the amount insured. There shall be attached to orincluded in each of those policies the portion of the bylaws that constitutea part of the policy contract. Bylaws or their amendments that are not a partof the policy contract shall not affect the policy contract unless they areincluded as a suitable endorsement mailed or delivered to the policyholder.

(Code 1950, § 38-529; 1952, c. 317, § 38.1-673; 1954, c. 161; 1986, c. 562.)